California use to only allow a max of 7% increase a year on homeowners insurance… and only base premiums on past payouts on a property. Not anymore. “California will let insurance companies consider climate change when setting their prices, the state’s chief regulator announced Thursday, a move aimed at preventing insurers from fleeing the state […]
Tag Archives: real estate
California Homeowners Insurance Consider Climate Change Prices
Posted in Business, Environment, Global Warming
Also tagged climate change, extreme weather events, flood insurance, flooding, homeowners insurance, rising sea level, wildfires, wind
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Climate Change: Insurance Risk
The 9th National Risk Assessment for Homeowners Insurance found climate risks place 39 million U.S. homes at risk of losing their insurance. “Sound pricing is going to make it unaffordable to live in certain places as climate impacts emerge.” “There’s this climate insurance bubble out there,” said Jeremy Porter, the head of climate implications at […]
Posted in Agriculture, Business, Education, Environment, Global Warming, Government, health and wellness, Science
Also tagged climate change, extreme weather events, flood insurance, flooding, homeowners insurance, rising sea level, wildfires, wind
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Insurance, and the Lack Thereof
The Washington Post reported, “Home insurers cut natural disasters from policies as climate risks grow“. “Allstate, American Family, Nationwide, Erie Insurance Group and Berkshire Hathaway — have told regulators that extreme weather patterns caused by climate change have led them to stop writing coverages in some regions, exclude protections from various weather events and raise […]
Posted in Business, Global Warming, Science, weather
Also tagged climate change, extreme weather events, flood insurance, flooding, homeowners insurance, rising sea level
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Climate Change: Stranded on an Island
by Daniel Brouse Climate change brings with it the inevitability of rising sea levels. Even if green house gas emissions were stopped completely, the sea will continue to rise for hundreds or thousands of years. Not only will the submerged properties be affected by the rising tides, so will all the new island properties. Initially, […]
Posted in Environment, Global Warming, Science
Also tagged climate change, extreme weather events, flood insurance, flooding, rising sea level
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Antarctic Ice Sheet Is Melting at Accelerated Rate
The Word Economic Forum published the report The Antarctic ice sheet is melting. And this is bad news for humanity. * The Antarctic ice sheet has been strongly decreasing since 2016. * If left unchecked, the complete melting of the West Antarctic ice sheet would cause a global sea level increase of 3.3 metres in […]
Posted in Environment, Global Warming, Science
Also tagged climate change, flood insurance, flooding, rising sea level
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Climate Change Impacts on Flood Risks and Real Estate Values
by Daniel Brouse and Sidd Mukherjee February 26, 2023 Climate change poses many risks to real estate values. In general, as energy is added to a system, the fluctuations in the system increase. So, we expect more storms, more droughts, more wildfires, more floods, more fluctuations of all kinds. What we are saying is that […]
Posted in Business, Finance, Global Warming, Government, Science, taxes
Also tagged cliamte change, climate displacement, climate migration, climate refugees, flood insurance, rising sea level
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Real Estate Underwater: Displacement and Climate Refugees
by Daniel Brouse February 22, 2023 For years climate scientists have been trying to develop models for the real estate market impacted by rising sea levels. Florida is proving to be a microcosm of coastal real estate. “Everybody thinks this is a God-given sea level,” Harold Wanless, who heads the University of Miami’s geology department […]
Posted in Business, Environment, Finance, Global Warming, Science
Also tagged cliamte change, climate displacement, climate migration, climate refugees, flood insurance, rising sea level
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Economic Update: Inflation, Interest Rates, AI, Consumer Spending, Climate Change, and Fiscal Policy
by Daniel Brouse February 3, 2023 This article is about the economic conditions up to 2023 and a forecast for the foreseeable future. It helps to understand fiscal and monetary polices prior to reading the following. In 2022 and 2023, the Federal Reserve raised their interest rates charged to other banks 4.75 percent in an […]
Posted in Business, Environment, Finance, Global Warming, health and wellness, Politics, Science
Also tagged Federal Reserve, inflation, interest rates, money
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Managed Retreat: Relocating Due to Climate Change Extreme Weather Events
The Politico article Dream homes and disasters: Is the government ready to confront climate risk? explains the need for “Managed Retreat”. “The fact that official Washington is finally addressing the concept of some areas being too vulnerable to insure is noteworthy….” “For decades, lawmakers and federal agencies in Washington, D.C., have resisted taking harsh action […]
Posted in Environment, Global Warming, Science
Also tagged climate change, extreme weather events, FEMA, flood insurance, flooding, rising sea level
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Global Carbon Budget 2022
The Global Carbon Budget 2022 was published by Earth System Science Data. The report says if emissions aren’t brought down, the world will use up its 1.5-degree-Celsius carbon budget — the amount of CO2 we can emit and stay within 1.5C — within nine years. After go beyond 1.5C the amount of tipping points crossed […]
Posted in Energy, Environment, Global Warming, Science
Also tagged climate change, extreme weather events, flood insurance, flooding, rising sea level
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